Turkmen president instructs to step up work for attracting energy investment
Ashgabat, Turkmenistan, Oct. 26
By Huseyn Hasanov – Trend:
President of Turkmenistan Gurbanguly Berdimuhamedov addressing a government meeting noted that efforts should be intensified in the country’s fuel and energy industry to attract investments, the Altyn Asyr TV channel reported Oct. 26.
During the meeting, Deputy Prime Minister for Energy Maksat Babayev reported about the implementation of investment projects in oil and natural gas production, and about cooperation in this sphere with foreign partners.
The head of state gave a number of instructions to improve work efficiency in the development of oil and gas industry, in particular in increasing the volume of products obtained from processing of oil and gas.
Investments in the amount of 159.9 billion Turkmen manats ($45.6 billion) will be channeled to Turkmenistan’s oil and gas industry in the next seven years.
Turkmenistan ranks second for its natural gas reserves after Russia in the CIS area. Currently, the country supplies gas to Iran and China.